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FedEx Corporation
Financial and Operating Statistics
First Quarter Fiscal 2014
September 18, 2013
TABLE OF CONTENTS
FEDEX CORPORATION
OVERVIEW
CONDENSED CONSOLIDATED BALANCE SHEETS
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
ANNUAL CONSOLIDATED STATEMENTS OF INCOME
QUARTERLY CONSOLIDATED STATEMENTS OF INCOME
FY2010 FY2011
FY2012 FY2013
FY2014
CAPITAL EXPENDITURES
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
FEDEX CORPORATION
OVERVIEW
FedEx Corporation provides customers and businesses worldwide with a broad portfolio of
transportation, e-commerce and business services. With annual revenues of $45 billion, the
company offers integrated business applications through operating companies competing
collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked
among the world's most admired and trusted employers, FedEx inspires its more than 300,000
team members to remain "absolutely, positively" focused on safety, the highest ethical and
professional standards and the needs of their customers and communities.
FedEx Express invented express distribution and remains the industrys global leader, providing
rapid, reliable, time-definite delivery to more than 220 countries and territories, connecting markets
that comprise more than 90 percent of the worlds gross domestic product within one to three
business days. Unmatched air route authorities and transportation infrastructure, combined with
leading-edge information technologies, make FedEx Express the worlds largest express
transportation company, providing fast and reliable services for more than 3.9 million shipments
each business day.
FedEx Ground is a leading North American provider of ground small-package delivery services,
providing service to the United States and Canada. FedEx Home Delivery, the industrys first
ground service dedicated to residential delivery, is available from FedEx Ground and is backed by
a money-back guarantee. FedEx Ground segment financial results include FedEx SmartPost,
which specializes in the consolidation and delivery of high volumes of low-weight, less timesensitive business-to-consumer packages using the U.S. Postal Service for final delivery to any
residential address or P.O. Box in the United States.
FedEx Freight is a leading North American provider of less-than-truckload (LTL) freight services
across all lengths of haul. FedEx Freight segment financial results also include FedEx Custom
Critical, a leading North American provider of time-specific, critical shipment services.
FedEx Services operates combined sales, marketing, administrative and information technology
functions in shared services operations that support our transportation businesses and allow us to
obtain synergies from the combination of these functions. The FedEx Services segment includes:
FedEx Services, which provides sales, marketing, information technology, communications and
back-office support to our other companies; FedEx TechConnect, which is responsible for
customer service, technical support, billings and collections for U.S. customers of our major
business units; and FedEx Office, which provides an array of document and business services and
retail access to our customers for our package transportation businesses.
CORPORATE HEADQUARTERS:
STOCK SYMBOL:
FDX
800,000,000
STOCKHOLDERS OF RECORD:
May 31
ANNUAL MEETING:
FedEx Corporation
Condensed Consolidated Balance Sheets
FY 2010 FY 2014
May 31
In millions (except share data)
.
FY 2010
FY 2011
FY 2012
FY 2013
Aug. 31,
2013
$ 1,952
4,163
389
529
251
7,284
$ 2,328
4,581
437
610
329
8,285
$ 2,843
4,704
440
533
536
9,056
$ 4,917
5,044
457
533
323
11,274
$ 5,096
4,990
451
604
352
11,493
11,640
5,193
4,218
3,170
7,081
31,302
13,146
5,591
4,408
3,294
7,247
33,686
14,360
5,912
4,646
3,654
7,592
36,164
14,716
6,452
4,958
4,080
7,903
38,109
38,167
ASSETS
Current Assets
Cash and cash equivalents
Receivables, less allowances
Spare parts, supplies and fuel, less allowances
Deferred income taxes
Prepaid expenses and other
Total current assets
Property and Equipment, at Cost
Aircraft and related equipment
Package handling and GSE
Computer and electronic equipment
Vehicles
Facilities and other
Less accumulated depreciation and amort.
16,917
18,143
18,916
19,625
19,730
14,385
15,543
17,248
18,484
18,437
2,200
1,033
3,233
2,326
1,231
3,557
2,387
1,212
3,599
2,755
1,054
3,809
2,712
1,031
3,743
$ 24,902
$ 27,385
$ 29,903
$ 33,567
$ 33,673
Current Liabilities
Current portion of long-term debt
Accrued salaries and employee benefits
Accounts payable
Accrued expenses
Total current liabilities
$ 262
1,146
1,522
1,715
4,645
$ 18
1,268
1,702
1,894
4,882
$ 417
1,635
1,613
1,709
5,374
$ 251
1,688
1,879
1,932
5,750
$ 254
1,366
1,879
2,024
5,523
1,668
1,667
1,250
2,739
2,739
891
1,705
960
804
267
151
4,778
1,336
2,124
977
779
246
154
5,616
836
5,582
963
784
251
136
8,552
1,652
3,916
987
778
227
120
7,680
1,820
3,813
996
797
221
109
7,756
31
2,261
13,966
(2,440)
(7)
13,811
32
2,484
15,266
(2,550)
(12)
15,220
32
2,595
17,134
(4,953)
(81)
14,727
32
2,668
18,519
(3,820)
(1)
17,398
32
2,696
18,913
(3,857)
(129)
17,655
$ 24,902
$ 27,385
$ 29,903
$ 33,567
$ 33,673
1 - Includes other comprehensive income charge of $1.0 billion, net of taxes, at May 31, 2010, $350 million, net of taxes, at May 31, 2011, $2.4 billion, net of taxes, at
May 31, 2012, and an increase of $861 million, net of taxes, at May 31, 2013, related to the funded status of our retirement plans.
Current period financial results are unaudited. Differences may result due to rounding.
FedEx Corporation
Condensed Consolidated Statements of Cash Flows
FY 2010 FY 2014
Years ended May 31
FY 2010
FY 2011
FY 2012
FY 2013
Q1 YTD
1
FY 2014
$ 1,184
$ 1,452
$ 2,032
$ 1,561
$ 489
1,958
124
331
18
101
1,973
152
669
29
98
2,113
160
1,126
134
105
2,386
167
521
479
109
In millions
OPERATING ACTIVITIES
Net income
Adjustments to reconcile net income to cash provided by
operating activities:
Depreciation and amortization
Provision for uncollectible accounts
Deferred income taxes and other noncash items
2
Business realignment, impairment and other charges
Stock-based compensation
Changes in operating assets and liabilities, net of the effects
of businesses acquired:
Receivables
Other current assets
Pension assets and liabilities, net
Accounts payable and other operating liabilities
Other, net
Cash provided by operating activities
(906)
276
(611)
710
(47)
(400)
(114)
(169)
370
(19)
(254)
(231)
(453)
144
(41)
639
37
89
45
(370)
(451)
257
(335)
10
(16)
3,138
4,041
4,835
4,688
929
INVESTING ACTIVITIES
Capital expenditures
Business acquisitions, net of cash acquired
Proceeds from asset dispositions and other
(2,816)
35
(3,434)
(96)
111
(4,007)
(116)
74
(3,375)
(483)
55
(572)
10
(2,781)
(3,419)
(4,049)
(3,803)
(562)
FINANCING ACTIVITIES
Principal payments on debt
Proceeds from debt issuances
Proceeds from stock issuances
Excess tax benefits on the exercise of stock options
Dividends paid
Purchase of treasury stock
Other, net
(653)
94
25
(138)
(20)
(262)
108
23
(151)
(5)
(29)
128
18
(164)
(197)
(417)
1,739
280
23
(177)
(246)
(18)
131
14
(48)
(278)
(692)
(287)
(244)
1,184
(181)
(5)
41
(27)
(7)
(340)
2,292
$ 1,952
376
1,952
$ 2,328
515
2,328
$ 2,843
2,074
2,843
$ 4,917
179
4,917
$ 5,096
1 - FY14 year-to-date cash flow information has been included on a condensed basis and therefore certain line items are not presented individually.
2 - FY12 includes an impairment charge of $134 million resulting from the decision to retire 24 aircraft and related engines at FedEx Express. FY13 includes accrued
business realignment costs and an impairment charge of $100 million resulting from the decision to retire 10 aircraft and related engines.
Current period financial results are unaudited. Differences may result due to rounding.
FedEx Corporation
Annual Consolidated Statements of Income
FY 2010 FY 2014
Years ended May 31
In millions, except EPS
Revenue:
FedEx Express segment
FedEx Ground segment
FedEx Freight segment
FedEx Services segment
FY 2010
FY 2011
FY 2012
FY 2013
Q1 YTD
FY 2014
$ 21,555
7,439
4,321
1,770
$ 24,581
8,485
4,911
1,684
$ 26,515
9,573
5,282
1,671
$ 27,171
10,578
5,401
1,580
$ 6,605
2,730
1,424
375
(351)
34,734
(357)
39,304
(361)
42,680
(443)
44,287
(110)
11,024
14,027
4,728
2,359
1,958
3,106
1,715
18
4,825
32,736
15,276
5,674
2,462
1,973
4,151
1,979
89
5,322
36,926
16,099
6,335
2,487
2,113
4,956
1,980
134
5,390
39,494
16,570
7,272
2,521
2,386
4,746
1,909
660
5,672
41,736
4,077
1,879
640
639
1,104
480
1,410
10,229
1,127
1,024
(153)
1,998
1,228
1,325
(175)
2,378
1,260
1,764
162
3,186
555
1,788
208
2,551
236
468
91
795
(71)
(33)
(104)
1,894
(77)
(36)
(113)
2,265
(39)
(6)
(45)
3,141
(61)
(35)
(96)
2,455
(27)
(2)
(29)
766
710
813
1,109
894
277
$ 1,184
$ 1,452
$ 2,032
$ 1,561
$ 489
$ 3.78
$ 4.61
$ 6.44
$ 4.95
$ 1.54
312
315
315
315
316
$ 3.76
$ 4.57
$ 6.41
$ 4.91
$ 1.53
314
317
317
317
319
5.8%
5.5%
4.8%
8.6%
$ 0.44
6.1%
5.8%
5.6%
10.0%
$ 0.48
7.5%
7.4%
7.1%
13.6%
$ 0.52
5.8%
5.5%
4.9%
9.7%
$ 0.56
7.2%
6.9%
4.9%
9.7%
$ 0.15
1 - FY11 includes charges of approximately $199 million ($104 million, net of tax and applicable variable incentive compensation impacts, or $0.33 per diluted share) related to the
combination of the company's FedEx Freight and FedEx National LTL operations. FY12 includes an impairment charge of $134 million ($84 million, net of tax, or $0.26 per
diluted share) resulting from the decision to retire 24 aircraft and related engines at FedEx Express. FY13 includes $560 million ($353 million, net of tax, or $1.11 per diluted
share) of business realignment costs and an impairment charge of $100 milion ($63 million, net of tax, or $0.20 per diluted share) resulting from the decision to retire 10
aircraft and related engines at FedEx Express.
2 - FY11 includes a $66 million reserve for the ATA litigation at FedEx Express that was reversed in FY12.
3 - Return on Assets and Return on Equity for the current year-to-date are calculated on a rolling four quarter basis.
Current period financial results are unaudited. Differences may result due to rounding.
FedEx Corporation
Quarterly Consolidated Statements of Income
FY 2010 FY 2011
Years ended May 31
In millions, except EPS
FIRST
QUARTER
Revenue:
FedEx Express segment
FedEx Ground segment
FedEx Freight segment
FedEx Services segment
Other & eliminations
Total Revenue
FY 2010
SECOND
THIRD
QUARTER QUARTER
FOURTH
QUARTER
FIRST
QUARTER
FY 2011
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
$ 4,924
1,730
982
451
(78)
8,009
$ 5,314
1,837
1,068
465
(88)
8,596
$ 5,440
1,910
1,040
406
(95)
8,701
$ 5,877
1,962
1,231
448
(90)
9,428
$ 5,912
1,961
1,258
415
(89)
9,457
$ 5,992
2,077
1,221
434
(92)
9,632
$ 6,049
2,184
1,123
397
(90)
9,663
$ 6,628
2,263
1,309
438
(86)
10,552
3,377
1,054
578
495
666
401
1,123
7,694
3,424
1,155
593
487
744
410
1,212
8,025
3,549
1,220
593
488
810
404
1,221
8,285
3,677
1,299
595
488
886
500
18
1,269
8,732
3,803
1,327
601
479
887
517
1,215
8,829
3,779
1,390
628
502
938
473
67
1,386
9,163
3,828
1,446
621
493
1,049
480
21
1,332
9,270
3,866
1,511
612
499
1,277
509
1
1,389
9,664
104
209
2
315
345
238
(12)
571
265
258
(107)
416
413
319
(36)
696
357
287
(16)
628
264
296
(91)
469
178
325
(110)
393
429
417
42
888
(18)
(3)
(21)
(15)
(9)
(24)
(19)
(16)
(35)
(19)
(5)
(24)
(18)
(7)
(25)
(23)
(9)
(32)
(24)
(9)
(33)
(12)
(11)
(23)
294
547
381
672
603
437
360
865
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals and landing fees
Depreciation and amortization
Fuel
Maintenance and repairs
Impairment charges1
Other1
Total Operating Expenses
113
202
142
253
223
154
129
307
Net Income
$ 181
$ 345
$ 239
$ 419
$ 380
$ 283
$ 231
$ 558
$ 0.58
$ 1.10
$ 0.76
$ 1.34
$ 1.21
$ 0.90
$ 0.73
$ 1.76
312
312
312
313
314
314
315
315
$ 0.58
$ 1.10
$ 0.76
$ 1.33
$ 1.20
$ 0.89
$ 0.73
$ 1.75
312
314
315
316
315
316
317
318
3.9%
3.7%
6.6%
6.4%
4.8%
4.4%
7.4%
7.1%
6.6%
6.4%
4.9%
4.5%
4.1%
3.7%
8.4%
8.2%
$ 0.11
$ 0.11
$ 0.11
$ 0.11
$ 0.12
$ 0.12
$ 0.12
$ 0.12
SELECTED STATISTICS
Operating Margin
Pretax Margin
Dividends Paid Per Common Share
1 - Q2 FY11 FedEx Express segment operating expenses include a $66 million reserve for the ATA litigation. Q2, Q3 and Q4 FY11 FedEx Freight segment operating income includes $133
million in costs related to the combination of the company's FedEx Freight and FedEx National LTL operations.
.
FedEx Corporation
Quarterly Consolidated Statements of Income
FY 2012 FY 2013
Years ended May 31
In millions, except EPS
FIRST
QUARTER
Revenue:
FedEx Express segment
FedEx Ground segment
FedEx Freight segment
FedEx Services segment
Other & eliminations
Total Revenue
FY 2012
SECOND
THIRD
QUARTER QUARTER
FOURTH
QUARTER
FIRST
QUARTER
FY 2013
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
$ 6,592
2,278
1,328
411
(88)
10,521
$ 6,583
2,339
1,325
427
(87)
10,587
$ 6,543
2,480
1,234
401
(94)
10,564
$ 6,797
2,476
1,395
432
(92)
11,008
$ 6,632
2,462
1,399
389
(90)
10,792
$ 6,858
2,593
1,377
405
(126)
11,107
$ 6,704
2,747
1,237
380
(115)
10,953
$ 6,977
2,776
1,388
406
(112)
11,435
4,004
1,518
620
509
1,244
551
3,982
1,576
623
518
1,200
511
4,021
1,619
628
543
1,233
456
4,092
1,622
616
543
1,279
462
4,103
1,680
618
573
1,138
542
4,125
1,860
630
592
1,235
511
4,150
1,871
640
599
1,215
424
4,192
1,861
633
622
1,158
432
1,338
9,784
1,397
9,807
1,251
9,751
134
1,404
10,152
4
1,392
10,050
13
1,423
10,389
47
1,418
10,364
596
1,439
10,933
288
407
42
737
342
398
40
780
349
465
(1)
813
281
494
81
856
207
445
90
742
230
412
76
718
118
467
4
589
464
38
502
(11)
(2)
(13)
(10)
(5)
(15)
(18)
(8)
(26)
(9)
(16)
(25)
(24)
(6)
(30)
724
777
792
848
727
692
564
472
260
280
271
298
268
254
203
169
Net Income
$ 464
$ 497
$ 521
$ 550
$ 459
$ 438
$ 361
$ 303
$ 1.46
$ 1.57
$ 1.66
$ 1.74
$ 1.46
$ 1.39
$ 1.14
$ 0.96
316
315
314
315
315
314
315
317
$ 1.46
$ 1.57
$ 1.65
$ 1.73
$ 1.45
$ 1.39
$ 1.13
$ 0.95
318
316
316
317
316
315
317
319
7.0%
6.9%
7.4%
7.3%
7.7%
7.5%
7.8%
7.7%
6.9%
6.7%
6.5%
6.2%
5.4%
5.1%
4.4%
4.1%
$ 0.13
$ 0.13
$ 0.13
$ 0.13
$ 0.14
$ 0.14
$ 0.14
$ 0.14
Operating Expenses:
Salaries and employee benefits1
Purchased transportation
Rentals and landing fees
Depreciation and amortization
Fuel
Maintenance and repairs
Business realignment, impairment and
other charges1,2,3
Other1,3
Total Operating Expenses
(7)
4
(3)
(12)
(9)
(21)
(9)
1
(8)
SELECTED STATISTICS
Operating Margin
Pretax Margin
Dividends Paid Per Common Share
1 - In Q3 FY13, we reclassified predominantly severance costs associated with our voluntary buyout program from salaries and employee benefits expense and other costs
directly attributable to our profit improvement plan from other expense to business realignment costs to conform to the current period presentation.
.
2 - The FedEx Express segment includes $2 million in Q1, $9 million in Q2, $34 million in Q3 and $360 million in Q4 FY13 of direct and allocated costs associated with our
business realignment activities. The FedEx Ground segment includes $3 million in Q2, $9 million in Q3 and $93 in Q4 FY13 of direct and allocated costs associated with our
business realignment activities. The FedEx Freight segment includes $1 million in Q1, $1 million in Q2, $5 million in Q3 and $43 million in Q4 FY13 of direct and allocated
costs associated with our business realignment activities.
.
3 - Q3 FY12 FedEx Express segment operating expenses include the reversal of a $66 million reserve associated with the ATA litigation. Q4 FY12 FedEx Express segment
operating expenses include an impairment charge of $134 million resulting from the decision to retire 24 aircraft and related engines. Q4 FY13 FedEx Express segment
operating expenses include an impairment charge of $100 million resulting from the decision to retire 10 aircraft and related engines.
.
FedEx Corporation
Quarterly Consolidated Statements of Income
FY 2014
Years ended May 31
In millions, except EPS
FIRST
QUARTER
Revenue:
FedEx Express segment
FedEx Ground segment
FedEx Freight segment
FedEx Services segment
Other & eliminations
Total Revenue
$ 6,605
2,730
1,424
375
(110)
11,024
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals and landing fees
Depreciation and amortization
Fuel
Maintenance and repairs
Other
Total Operating Expenses
4,077
1,879
640
639
1,104
480
1,410
10,229
Operating Income:
FedEx Express segment
FedEx Ground segment
FedEx Freight segment
Total Operating Income
236
468
91
795
(27)
(2)
(29)
766
$ 489
$ 1.54
FOURTH
QUARTER
277
Net Income
FY 2014
SECOND
THIRD
QUARTER QUARTER
316
$ 1.53
319
SELECTED STATISTICS
Operating Margin
Pretax Margin
Dividends Paid Per Common Share
7.2%
6.9%
$ 0.15
FedEx Corporation
Capital Spending
FY 2010 FY 2014
Years ended May 31
In millions
FY 2010
FY 2011
FY 2012
FY 2013
Q1 YTD
FY 2014
By Asset Type
Aircraft and Related Equipment
Facilities and Sort Equipment
Vehicles
Information Technology Investments
Other Equipment
Total
$ 1,537
630
220
289
140
$ 2,816
$ 1,988
555
282
455
154
$ 3,434
$ 1,875
638
723
541
230
$ 4,007
$ 1,190
727
734
452
272
$ 3,375
$ 197
125
149
71
30
$ 572
By Segment
FedEx Express segment
FedEx Ground segment
FedEx Freight segment
FedEx Services segment
Other
Total
$ 1,864
400
212
340
$ 2,816
$ 2,467
426
153
387
1
$ 3,434
$ 2,689
536
340
437
5
$ 4,007
$ 2,067
555
326
424
3
$ 3,375
$ 305
161
40
66
$ 572
FY 2010
FY 2011
FY 2012
FY 2013
Q1 YTD
FY 2014
$ 5,602
1,640
7,242
2,589
9,831
$ 6,128
1,736
7,864
2,805
10,669
6,760
1,468
$ 6,546
1,747
8,293
3,001
11,294
6,849
1,859
$ 6,513
1,705
8,218
3,020
11,238
6,586
2,046
$ 1,584
419
2,003
729
2,732
1,576
532
7,087
578
17,496
8,228
653
19,550
8,708
853
20,855
8,632
1,398
21,268
2,108
345
5,185
1,980
1,303
251
3,534
2,188
1,722
283
4,193
2,498
1,827
307
4,632
2,562
1,678
276
4,516
624
388
54
1,066
525
838
1,028
1,387
354
21,555
24,581
26,515
27,171
6,605
8,402
1,177
1,577
1,016
2,651
1,131
1,940
2,534
20,428
9,183
1,573
1,672
1,059
3,553
1,353
2,043
2,917
23,353
9,657
1,828
1,680
1,169
4,304
1,332
134
2,193
2,958
25,255
10,045
2,331
1,684
1,350
4,130
1,244
243
2,379
3,210
26,616
2,440
608
421
369
956
307
495
773
6,369
$ 1,127
$ 1,228
$ 1,260
$ 555
$ 236
5.2%
5.0%
4.8%
2.0%
3.6%
Package Revenue:
U.S. Overnight Box
U.S. Overnight Envelope
Total U.S. Overnight
U.S. Deferred
Total U.S. Package Revenue
International Priority
International Economy
Total International Export
Package Revenue
International Domestic1
Total Package Revenue
Freight Revenue:
U.S.
International Priority
International Airfreight
Total Freight Revenue
Other Revenue2
Total Revenue
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals and landing fees
Depreciation and amortization
Fuel
Maintenance and repairs
Business realignment, impairment and other charges3
Intercompany charges4
Other5
Operating Income
SELECTED STATISTICS
Operating Margin
1 - International domestic revenues include our international intra-country express operations, including acquisitions in India (February 2011), Mexico (July 2011), Poland
(June 2012), France (July 2012) and Brazil (July 2012).
2 - Other revenues include FedEx Trade Networks and, beginning in the second quarter of FY10, FedEx SupplyChain Systems.
3 - FY12 includes an impairment charge of $134 million resulting from the decision to retire 24 aircraft and related engines. FY13 includes $143 million of predominantly
severance costs associated with our voluntary buyout program and an impairment charge of $100 million resulting from the decision to retire 10 aircraft and related
engines.
4 - FY13 includes allocations of $262 million for business realignment costs.
5 - FY11 includes a $66 million reserve for the ATA litigation at FedEx Express. FY12 includes the reversal of a $66 million reserve associated with the ATA litigation.
Current period financial results are unaudited. Differences may result due to rounding.
FIRST
QUARTER
FY 2010
SECOND
THIRD
QUARTER QUARTER
FOURTH
QUARTER
FIRST
QUARTER
FY 2011
SECOND
THIRD
QUARTER QUARTER
FOURTH
QUARTER
Package Revenue:
U.S. Overnight Box
U.S. Overnight Envelope
Total U.S. Overnight
U.S. Deferred
Total U.S. Packages
International Priority
International Economy
Total International Export Package
Revenue
International Domestic1
Total Package Revenue
$ 1,331
408
1,739
601
2,340
$ 1,372
395
1,767
626
2,393
$ 1,413
400
1,813
692
2,505
$ 1,486
437
1,923
670
2,593
$ 1,491
432
1,923
661
2,584
1,652
322
$ 1,489
416
1,905
666
2,571
1,659
350
$ 1,514
425
1,939
743
2,682
1,610
364
$ 1,634
463
2,097
735
2,832
1,839
432
1,594
134
4,068
1,763
151
4,307
1,748
142
4,395
1,982
151
4,726
1,974
148
4,706
2,009
165
4,745
1,974
158
4,814
2,271
182
5,285
449
260
61
770
490
321
63
874
525
329
61
915
516
393
66
975
523
406
70
999
530
435
69
1,034
565
412
68
1,045
570
469
76
1,115
Freight Revenue:
U.S.
International Priority
International Airfreight
Total Freight Revenue
Other Revenue2
Total Revenue
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals and landing fees
Depreciation and amortization
Fuel
Maintenance and repairs
Intercompany charges
Other3
86
133
130
176
207
213
190
228
4,924
5,314
5,440
5,877
5,912
5,992
6,049
6,628
2,043
255
385
252
571
261
469
584
4,820
2,036
283
396
251
638
267
470
628
4,969
2,136
292
397
254
694
261
497
644
5,175
2,187
347
399
259
748
342
504
678
5,464
2,258
369
403
255
754
352
513
651
5,555
2,253
388
427
265
802
320
512
761
5,728
2,321
386
424
267
898
330
498
747
5,871
2,351
430
418
272
1,099
351
520
758
6,199
$ 104
$ 345
$ 265
$ 413
$ 357
$ 264
$ 178
$ 429
2.1%
6.5%
4.9%
7.0%
6.0%
4.4%
2.9%
6.5%
SELECTED STATISTICS
Operating Margin
1 - International domestic revenues include our international intra-country express operations, including an acquisition in India in February 2011.
2 - Other revenues include FedEx Trade Networks and, beginning in the second quarter of FY10, FedEx SupplyChain Systems.
3 - Q2 FY11 includes a $66 million reserve for the ATA litigation.
FIRST
QUARTER
FY 2012
SECOND
THIRD
QUARTER QUARTER
FOURTH
QUARTER
FIRST
QUARTER
FY 2013
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
Package Revenue:
U.S. Overnight Box
U.S. Overnight Envelope
Total U.S. Overnight
U.S. Deferred
Total U.S. Packages
International Priority
International Economy
Total International Export Package
Revenue
International Domestic1
Total Package Revenue
$ 1,640
451
2,091
731
2,822
1,757
441
$ 1,623
421
2,044
731
2,775
1,711
460
$ 1,619
426
2,045
792
2,837
1,625
454
$ 1,664
449
2,113
747
2,860
1,756
504
$ 1,604
430
2,034
702
2,736
1,661
487
$ 1,609
409
2,018
732
2,750
1,678
514
$ 1,609
413
2,022
812
2,834
1,567
491
$ 1,691
453
2,144
774
2,918
1,680
554
2,198
207
5,227
2,171
217
5,163
2,079
210
5,126
2,260
219
5,339
2,148
309
5,193
2,192
384
5,326
2,058
342
5,234
2,234
363
5,515
591
449
77
1,117
628
470
74
1,172
647
443
77
1,167
632
465
79
1,176
610
439
74
1,123
645
446
77
1,168
668
384
64
1,116
639
409
61
1,109
Freight Revenue:
U.S.
International Priority
International Airfreight
Total Freight Revenue
Other Revenue2
Total Revenue
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals and landing fees
Depreciation and amortization
Fuel
Maintenance and repairs
Business realignment, impairment and
other charges3,5
Intercompany charges4
Other5
Operating Income
248
248
250
282
316
364
354
353
6,592
6,583
6,543
6,797
6,632
6,858
6,704
6,977
2,413
449
423
282
1,077
380
2,377
448
421
288
1,039
354
2,410
449
425
299
1,078
303
2,457
482
411
300
1,110
295
2,473
537
415
323
986
372
2,488
608
418
336
1,074
349
2,539
583
429
334
1,066
262
2,545
603
422
357
1,004
261
548
732
6,304
548
766
6,241
547
683
6,194
134
550
777
6,516
537
782
6,425
1
535
819
6,628
13
548
812
6,586
229
759
797
6,977
$ 288
$ 342
$ 349
$ 281
$ 207
$ 230
$ 118
4.4%
5.2%
5.3%
4.1%
3.1%
3.4%
1.8%
SELECTED STATISTICS
Operating Margin
1 - International domestic revenues include our international intra-country express operations, including acquisitions in Mexico (July 2011), Poland (June 2012), France (July 2012) and Brazil
(July 2012).
2 - Other revenues include FedEx Trade Networks and FedEx SupplyChain Systems.
3 - Q4 FY12 includes an impairment charge of $134 million resulting from the decision to retire 24 aircraft and related engines. Q4 FY13 includes an impairment charge of $100 million
resulting from the decision to retire 10 aircraft and related engines. Q4 FY13 includes $129 million of predominantly severance costs associated with our voluntary buyout program. Q2
FY13 and Q3 FY13 include severance costs associated with our voluntary buyout program.
4 - FY13 includes allocations of $21 million in Q3 and $231 million in Q4 for business realignment costs.
5 - Q3 FY12 includes the reversal of a $66 million reserve associated with the ATA litigation at FedEx Express. In Q3 FY13, we reclassified costs directly attributable to our profit
improvement plan from other expense to business realignment costs to conform to the current period presentation.
11
FIRST
QUARTER
FY 2014
SECOND
THIRD
QUARTER QUARTER
Package Revenue:
U.S. Overnight Box
U.S. Overnight Envelope
Total U.S. Overnight
U.S. Deferred
Total U.S. Packages
International Priority
International Economy
Total International Export Package
Revenue
International Domestic1
Total Package Revenue
$ 1,584
419
2,003
729
2,732
1,576
532
2,108
345
5,185
Freight Revenue:
U.S.
International Priority
International Airfreight
Total Freight Revenue
Other Revenue2
Total Revenue
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals and landing fees
Depreciation and amortization
Fuel
Maintenance and repairs
Intercompany charges
Other
Operating Income
624
388
54
1,066
354
6,605
2,440
608
421
369
956
307
495
773
6,369
$ 236
SELECTED STATISTICS
Operating Margin
3.6%
FOURTH
QUARTER
FedEx Express
Annual Shipment Statistics
FY 2010 FY 2014
FY 2013
Q1 YTD
FY 2014
1,146
586
1,732
845
2,577
421
138
559
495
3,631
1,134
574
1,708
835
2,543
421
155
576
785
3,904
1,112
563
1,675
790
2,465
406
165
571
789
3,825
7,340
3,184
1,235
11,759
7,487
3,303
1,171
11,961
7,612
3,048
1,066
11,726
7,423
2,862
850
11,135
53.10
7.14
$ 19.72
$ 20.29
10.86
17.02
12.60
15.59
57.68
49.76
56.08
7.38
$ 21.25
$ 22.31
11.65
18.70
13.87
17.12
63.47
52.77
60.83
6.74
$ 22.44
$ 22.52
11.66
18.87
14.18
17.33
61.28
51.77
58.72
6.99
$ 21.36
$ 22.27
11.61
18.68
14.42
17.32
60.65
50.41
57.70
6.84
$ 21.18
$ 1.09
2.01
0.81
$ 1.27
$ 1.17
2.12
0.90
$ 1.40
$ 1.30
2.16
1.02
$ 1.51
$ 1.32
2.16
1.01
$ 1.51
$ 1.31
2.12
0.99
$ 1.50
2.7%
(2.1%)
1.0%
2.1%
1.3%
2.3%
2.1%
2.3%
0.7%
1.7%
10.1%
6.7%
3.1%
9.9%
9.4%
3.7%
(3.2%)
(6.5%)
(4.4%)
(3.2%)
(4.0%)
(8.3%)
19.0%
(2.8%)
42.2%
0.7%
(1.0%)
(2.0%)
(1.4%)
(1.2%)
(1.3%)
12.3%
3.0%
58.6%
7.5%
1.8%
(2.1%)
0.5%
3.7%
1.5%
(0.5%)
15.4%
3.6%
15.9%
4.5%
(7.8%)
(11.6%)
(8.7%)
(7.2%)
(8.3%)
9.4%
5.9%
8.6%
8.3%
8.5%
1.6%
2.3%
(4.2%)
7.5
$ 2.63
255
16.1%
13.0%
11.7%
8.0
$ 2.66
255
6.8%
0.6%
5.5%
7.0%
5.9%
1.3%
26.6%
5.8%
30.6%
6.7%
8.8
$ 2.55
256
(0.5%)
(2.4%)
(0.9%)
0.6%
(0.5%)
(3.8%)
10.1%
(0.9%)
63.9%
2.0%
10.3
$ 2.07
255
(1.2%)
(2.6%)
(1.5%)
3.8%
(0.1%)
(5.1%)
9.2%
(1.9%)
11.7%
(0.2%)
10.5
$ 2.02
64
FY 2010
FY 2011
FY 2012
1,157
614
1,771
867
2,638
523
318
3,479
1,184
627
1,811
873
2,684
459
116
575
348
3,607
7,141
2,544
1,222
10,907
$ 19.00
10.47
16.04
11.70
14.61
1 - International domestic statistics include our international intra-country express operations, including acquisitions in India (February 2011), Mexico (July 2011), Poland (June
2012), France (July 2012) and Brazil (July 2012).
Unaudited. Differences may result due to rounding.
13
FedEx Express
Quarterly Shipment Statistics
FY 2010 FY 2011
FY 2010
FY 2011
FIRST
SECOND
THIRD
FOURTH
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER
AVG. DAILY VOLUME / POUNDS
Avg. Daily Package Volume (000s):
U.S. Overnight Box (FO, PO, SOP)
U.S. Overnight Envelope (OL, SOL)
Total U.S. Overnight
U.S. Deferred (E2, ESP)
Total U.S. Packages
International Priority (IPP,IPOL)
International Economy (IE)
Total International Export Packages
1
International Domestic
Total Avg Daily Packages
1,128
617
1,745
823
2,568
1,154
606
1,760
858
2,618
1,190
601
1,791
949
2,740
1,156
632
1,788
843
2,631
560
323
3,514
1,168
624
1,792
846
2,638
462
104
566
323
3,527
1,196
626
1,822
865
2,687
470
115
585
354
3,626
1,218
631
1,849
952
2,801
438
120
558
337
3,696
1,158
626
1,784
833
2,617
468
125
593
373
3,583
475
293
3,336
529
338
3,485
530
317
3,587
6,584
2,142
1,297
10,023
7,193
2,571
1,207
10,971
7,906
2,577
1,184
11,667
6,916
2,889
1,198
11,003
6,908
3,027
1,240
11,175
7,459
3,320
1,243
12,022
8,000
3,131
1,262
12,393
7,027
3,261
1,195
11,483
$ 18.16
10.17
15.33
11.23
14.02
$ 18.87
10.36
15.95
11.58
14.51
$ 19.16
10.70
16.32
11.77
14.74
$ 19.77
10.64
16.55
12.23
15.16
51.61
7.05
$ 18.76
52.88
7.09
$ 19.62
53.23
7.22
$ 19.76
54.45
7.22
$ 20.69
$ 19.65
10.64
16.51
12.01
15.07
54.98
47.98
53.70
7.04
$ 20.52
$ 19.75
10.54
16.59
12.24
15.19
56.09
48.19
54.54
7.39
$ 20.77
$ 20.05
10.87
16.91
12.60
15.45
59.31
48.88
57.07
7.54
$ 21.01
$ 21.72
11.37
18.08
13.56
16.65
60.43
53.44
58.96
7.51
$ 22.69
$ 1.05
1.87
0.72
$ 1.18
$ 1.08
1.98
0.83
$ 1.26
$ 1.07
2.06
0.84
$ 1.26
$ 1.15
2.09
0.85
$ 1.36
$ 1.16
2.06
0.87
$ 1.38
$ 1.13
2.08
0.88
$ 1.36
$ 1.14
2.12
0.88
$ 1.36
$ 1.25
2.21
0.96
$ 1.49
2.3%
(1.9%)
0.8%
(0.6%)
0.3%
(4.0%)
(4.6%)
(0.8%)
6.3%
(0.8%)
3.7%
3.1%
3.5%
5.8%
8.7%
4.3%
1.1%
(3.4%)
(0.4%)
4.6%
1.3%
17.8%
12.8%
4.4%
1.0%
(1.9%)
1.7%
0.5%
22.8%
11.8%
4.5%
3.5%
1.1%
2.7%
2.8%
2.7%
19.2%
10.2%
5.7%
3.6%
3.3%
3.5%
0.8%
2.6%
10.6%
4.7%
4.0%
2.4%
5.0%
3.2%
0.3%
2.2%
5.3%
6.3%
3.0%
0.2%
(0.9%)
(0.2%)
(1.2%)
(0.5%)
5.9%
15.5%
2.0%
(22.2%)
(22.3%)
(22.2%)
(21.1%)
(21.9%)
(22.0%)
(21.2%)
(21.9%)
(15.3%)
(18.7%)
(16.1%)
(15.4%)
(15.9%)
(8.7%)
(4.4%)
(12.7%)
0.2%
(6.1%)
(1.3%)
1.5%
(0.5%)
16.0%
21.4%
6.1%
11.4%
4.5%
9.8%
10.7%
10.0%
32.4%
25.8%
18.9%
12.0%
5.9%
10.6%
10.0%
10.4%
23.8%
10.4%
15.7%
8.5%
5.3%
7.8%
6.4%
7.4%
14.0%
9.3%
10.2%
7.1%
6.3%
6.9%
7.4%
7.1%
12.9%
11.3%
9.5%
10.0%
5.9%
9.0%
9.7%
9.2%
14.6%
20.5%
11.8%
7.2
7.6
7.5
7.6
7.7
7.9
7.8
8.6
$ 2.61
$ 2.58
$ 2.63
$ 2.72
$ 2.66
$ 2.63
$ 2.69
$ 2.64
65
63
62
65
65
63
62
65
1 - International domestic statistics include our international intra-country express operations, including an acquisition in India in February 2011.
Unaudited. Differences may result due to rounding.
FedEx Express
Quarterly Shipment Statistics
FY 2012 - FY2013
FY 2012
FY 2013
FIRST
SECOND
THIRD
FOURTH
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER
AVG. DAILY VOLUME / POUNDS
Avg. Daily Package Volume (000s):
U.S. Overnight Box (FO, PO, SOP)
U.S. Overnight Envelope (OL, SOL)
Total U.S. Overnight
U.S. Deferred (E2, ESP)
Total U.S. Packages
International Priority (IPP, IPOL)
International Economy (IE)
Total International Export Packages
International Domestic1
Total Avg Daily Packages
1,134
596
1,730
829
2,559
417
126
543
445
3,547
1,168
582
1,750
838
2,588
431
138
569
529
3,686
1,171
581
1,752
923
2,675
413
139
552
508
3,735
1,113
584
1,697
793
2,490
425
148
573
498
3,561
1,092
575
1,667
762
2,429
408
143
551
681
3,661
1,141
564
1,705
828
2,533
445
157
602
884
4,019
1,176
569
1,745
944
2,689
420
155
575
781
4,045
1,131
586
1,717
811
2,528
415
164
579
796
3,903
6,969
3,132
1,165
11,266
7,630
3,451
1,213
12,294
8,104
3,257
1,169
12,530
7,270
3,373
1,138
11,781
7,077
3,184
1,104
11,365
7,719
3,212
1,166
12,097
8,324
2,894
1,035
12,253
7,363
2,899
961
11,223
$ 22.24
11.64
18.59
13.57
16.97
64.82
53.91
62.30
7.16
$ 22.67
$ 22.05
11.48
18.54
13.84
17.01
62.98
52.99
60.56
6.51
$ 22.23
$ 21.93
11.65
18.53
13.62
16.83
62.49
51.74
59.78
6.57
$ 21.79
$ 23.01
11.81
19.15
14.49
17.67
63.54
52.54
60.71
6.78
$ 23.07
$ 22.59
11.51
18.77
14.17
17.33
62.68
52.17
59.94
7.00
$ 21.82
$ 22.39
11.51
18.79
14.04
17.24
59.91
51.97
57.84
6.88
$ 21.04
$ 22.08
11.69
18.69
13.87
17.00
60.25
51.03
57.76
7.06
$ 20.87
$ 22.99
11.91
19.21
14.67
17.76
62.32
51.90
59.37
7.02
$ 21.74
$ 1.31
2.21
1.02
$ 1.53
$ 1.31
2.16
0.97
$ 1.51
$ 1.27
2.16
1.04
$ 1.48
$ 1.34
2.12
1.07
$ 1.54
$ 1.33
2.12
1.03
$ 1.52
$ 1.32
2.21
1.05
$ 1.53
$ 1.30
2.14
0.99
$ 1.47
$ 1.33
2.18
0.97
$ 1.52
(2.9%)
(4.5%)
(3.5%)
(2.0%)
(3.0%)
(9.7%)
21.2%
(4.1%)
37.8%
0.6%
(2.3%)
(7.0%)
(4.0%)
(3.1%)
(3.7%)
(8.3%)
20.0%
(2.7%)
49.4%
1.7%
(3.9%)
(7.9%)
(5.2%)
(3.0%)
(4.5%)
(5.7%)
15.8%
(1.1%)
50.7%
1.1%
(3.9%)
(6.7%)
(4.9%)
(4.8%)
(4.9%)
(9.2%)
18.4%
(3.4%)
33.5%
(0.6%)
(3.7%)
(3.5%)
(3.6%)
(8.1%)
(5.1%)
(2.2%)
13.5%
1.5%
53.0%
3.2%
(2.3%)
(3.1%)
(2.6%)
(1.2%)
(2.1%)
3.2%
13.8%
5.8%
67.1%
9.0%
0.4%
(2.1%)
(0.4%)
2.3%
0.5%
1.7%
11.5%
4.2%
53.7%
8.3%
1.6%
0.3%
1.2%
2.3%
1.5%
(2.4%)
10.8%
1.0%
59.8%
9.6%
10.0%
4.4%
8.7%
10.6%
9.2%
6.4%
37.0%
11.3%
39.9%
11.1%
9.0%
1.2%
7.3%
9.8%
7.9%
3.1%
31.4%
8.1%
31.5%
8.8%
6.9%
0.2%
5.5%
6.6%
5.8%
0.9%
24.7%
5.3%
32.9%
6.5%
1.8%
(3.0%)
0.8%
1.6%
1.0%
(4.5%)
16.7%
(0.5%)
20.3%
1.0%
(2.2%)
(4.7%)
(2.7%)
(4.0%)
(3.0%)
(5.5%)
10.4%
(2.3%)
49.3%
(0.7%)
(0.9%)
(2.9%)
(1.3%)
0.1%
(0.9%)
(1.9%)
11.7%
1.0%
77.0%
3.2%
(0.6%)
(3.1%)
(1.1%)
2.5%
(0.1%)
(3.6%)
8.1%
(1.0%)
62.9%
2.1%
1.6%
0.9%
1.5%
3.6%
2.0%
(4.3%)
9.9%
(1.2%)
65.8%
3.3%
8.6
9.1
8.7
8.8
9.9
10.7
10.0
10.4
$ 2.64
$ 2.44
$ 2.50
$ 2.62
$ 2.20
$ 1.97
$ 2.09
$ 2.09
65
63
63
65
65
63
62
65
1 - International domestic statistics include our international intra-country express operations, including acquisitions in Mexico (July 2011), Poland (June 2012), France (July 2012) and
Brazil (July 2012).
Unaudited. Differences may result due to rounding.
15
FedEx Express
Quarterly Shipment Statistics
FY 2014 - FY2015
FY 2014
FY 2015
FIRST
SECOND
THIRD
FOURTH
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER
AVG. DAILY VOLUME / POUNDS
Avg. Daily Package Volume (000s):
U.S. Overnight Box (FO, PO, SOP)
U.S. Overnight Envelope (OL, SOL)
Total U.S. Overnight
U.S. Deferred (E2, ESP)
Total U.S. Packages
International Priority (IPP, IPOL)
International Economy (IE)
Total International Export Packages
International Domestic1
Total Avg Daily Packages
1,112
563
1,675
790
2,465
406
165
571
789
3,825
7,423
2,862
850
11,135
YIELD
Revenue Per Package:
U.S. Overnight Box (FO, PO, SOP)
U.S. Overnight Envelope (OL, SOL)
Total U.S. Overnight
U.S. Deferred (E2, ESP)
Total U.S. Packages
International Priority (IPP, IPOL)
International Economy (IE)
Total International Export Packages
International Domestic1
Total Composite Package Yield
$ 22.27
11.61
18.68
14.42
17.32
60.65
50.41
57.70
6.84
$ 21.18
$ 1.31
2.12
0.99
$ 1.50
1.8%
(2.1%)
0.5%
3.7%
1.5%
(0.5%)
15.4%
3.6%
15.9%
4.5%
Revenue Growth:
U.S. Overnight Box (FO, PO, SOP)
U.S. Overnight Envelope (OL, SOL)
Total U.S. Overnight
U.S. Deferred (E2, ESP)
Total U.S. Packages
International Priority (IPP, IPOL)
International Economy (IE)
Total International Export Packages
International Domestic1
Total Package Revenue Growth
AVG POUNDS PER PACKAGE
AVG REVENUE PER PACKAGE LB.
OPERATING WEEKDAYS
(1.2%)
(2.6%)
(1.5%)
3.8%
(0.1%)
(5.1%)
9.2%
(1.9%)
11.7%
(0.2%)
10.5
$ 2.02
64
63
63
64
64
63
63
64
FedEx Express
Aircraft and Vehicle Fleet Statistics
FY 2010 FY 2019
Aircraft Type
Gross Max
Structural Payload
(Lbs/Aircraft)
2010
May 31
2011 2012
As of
Aug 31
2013 2013
To Be Delivered (Retired/Lease
Expiration) in FY
2014 2015 2016 2017 2018 2019
Boeing 727-200
59,300
77
67
41
14
Boeing 757-2001
63,000
36
58
73
89
91
16
11
Boeing 767F2
127,100
12
10
10
10
Boeing DC10-30
175,900
Boeing MD10-10
137,500
58
58
52
47
47
(3)
(11)
(11)
(5)
(4)
Boeing MD10-30
175,900
15
17
17
17
16
(6)
(5)
(1)
Boeing MD11
192,600
59
64
64
64
64
(1)
(1)
(8)
(4)
(2)
Boeing 777F
233,300
12
19
23
23
Airbus A300-600
106,600
71
71
71
71
71
(1)
(5)
83,170
53
53
35
30
30
(5)
(11)
Cessna 208A
2,250
10
Cessna 208B
2,830
241
241
241
245
245
ATR-72
17,970
13
21
21
21
21
ATR-42
12,070
26
26
26
26
26
667
688
660
647
634
19
(16)
(5)
Long-Haul Tractors
All Other Motorized Vehicles
2.8
38.5
2.7
39.4
3.0
42.3
3.3
44.2
3.3
43.8
41.3
42.1
45.3
47.5
47.1
Airbus A310-200/300
1 - August 31, 2013 B757 count includes 14 aircraft that are not currently in operation, 7 of which are in the modification process and 7 of which are awaiting
modification.
2 - As of August 31, 2013, we are committed to purchase 50 B767Fs.
3 - As of August 31, 2013, we are committed to purchase 20 B777Fs.
17
FedEx Express
Jet Fuel Statistics
FY 2010 FY 2014
FIRST
QUARTER
FY 2010
SECOND
THIRD
QUARTER QUARTER
FOURTH
QUARTER
FIRST
QUARTER
FY 2011
SECOND
THIRD
QUARTER QUARTER
FOURTH
QUARTER
261,655
271,153
275,746
281,865
295,682
299,748
302,586
$ 1.911
$ 2.081
$ 2.227
$ 2.357
$ 2.274
$ 2.392
$ 2.646
$ 3.339
$ 499,895
$ 564,146
$ 613,991
$ 664,307
$ 672,305
$ 716,961
$ 800,773
$ 987,673
FY 2012
SECOND
THIRD
QUARTER QUARTER
FOURTH
QUARTER
FIRST
QUARTER
FY 2013
SECOND
THIRD
QUARTER QUARTER
FOURTH
QUARTER
289,473
286,406
FIRST
QUARTER
Jet Fuel Gallons (000s)
Price Per Gallon
Jet Fuel Expense ($000s)
292,549
286,225
289,975
281,675
$ 3.300
$ 3.230
$ 3.259
$ 3.451
$ 3.070
$ 3.358
$ 3.280
$ 3.163
$ 933,674
$ 968,833
$ 998,966
$ 879,177
$ 961,200
$ 951,223
$ 890,915
FY 2014
SECOND
THIRD
QUARTER QUARTER
FOURTH
QUARTER
277,808
$ 3.055
$ 848,598
18
297,308
$ 965,486
FIRST
QUARTER
Jet Fuel Gallons (000s)
289,106
295,781
Revenues:
FedEx Ground
FedEx SmartPost
Total Revenues
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals
Depreciation and amortization
Fuel
Maintenance and repairs
Intercompany charges1
Other
Operating Income
FY 2010
FY 2011
FY 2012
FY 2013
Q1 YTD
FY 2014
$ 6,958
481
7,439
$ 7,855
630
8,485
$ 8,791
782
9,573
$ 9,652
926
10,578
$ 2,506
224
2,730
1,158
2,966
244
334
8
166
795
744
6,415
1,282
3,431
263
337
12
169
897
769
7,160
1,451
3,762
284
389
14
176
978
755
7,809
1,586
4,191
331
434
17
190
1,148
893
8,790
414
1,064
92
111
3
53
285
240
2,262
$ 1,024
$ 1,325
$ 1,764
$ 1,788
$ 468
13.8%
15.6%
18.4%
16.9%
17.1%
SELECTED STATISTICS
Operating Margin
19
FIRST
QUARTER
Revenues:
FedEx Ground
FedEx SmartPost
Total Revenues
FY 2010
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
FIRST
QUARTER
FY 2011
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
$ 1,637
93
1,730
$ 1,712
125
1,837
$ 1,768
142
1,910
$ 1,840
122
1,962
$ 1,839
122
1,961
$ 1,916
161
2,077
$ 2,001
183
2,184
$ 2,099
164
2,263
282
693
58
85
1
38
184
180
1,521
288
733
63
83
2
40
196
194
1,599
289
771
63
83
3
41
207
195
1,652
299
769
60
83
2
47
208
175
1,643
307
782
62
82
1
44
221
175
1,674
318
845
67
83
3
42
227
196
1,781
329
911
68
84
5
40
221
201
1,859
328
893
66
88
3
43
228
197
1,846
$ 209
$ 238
$ 258
$ 319
$ 287
$ 296
$ 325
$ 417
12.1%
13.0%
13.5%
16.3%
14.6%
14.3%
14.9%
18.4%
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals
Depreciation and amortization
Fuel
Maintenance and repairs
Intercompany charges
Other
Operating Income
SELECTED STATISTICS
Operating Margin
20
FIRST
QUARTER
Revenues:
FedEx Ground
FedEx SmartPost
Total Revenues
FY 2012
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
FIRST
QUARTER
FY 2013
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
$ 2,116
162
2,278
$ 2,143
196
2,339
$ 2,259
221
2,480
$ 2,273
203
2,476
$ 2,273
189
2,462
$ 2,359
234
2,593
$ 2,480
267
2,747
$ 2,540
236
2,776
351
886
66
93
2
44
241
188
1,871
362
933
72
94
5
43
245
187
1,941
369
995
74
102
4
43
246
182
2,015
369
948
72
100
3
46
246
198
1,982
377
946
74
103
3
46
262
206
2,017
396
1,057
85
110
4
46
262
221
2,181
405
1,121
86
111
6
48
270
233
2,280
408
1,067
86
110
4
50
354
233
2,312
$ 407
$ 398
$ 465
$ 494
$ 445
$ 412
$ 467
$ 464
17.9%
17.0%
18.8%
20.0%
18.1%
15.9%
17.0%
16.7%
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals
Depreciation and amortization
Fuel
Maintenance and repairs
Intercompany charges1
Other
Operating Income
SELECTED STATISTICS
Operating Margin
1 - FY13 includes allocations of $9 million in Q3 and $93 million in Q4 for business realignment costs.
Unaudited. Differences may result due to rounding.
21
FIRST
QUARTER
Revenues:
FedEx Ground
FedEx SmartPost
Total Revenues
$ 2,506
224
2,730
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals
Depreciation and amortization
Fuel
Maintenance and repairs
Intercompany charges
Other
Operating Income
414
1,064
92
111
3
53
285
240
2,262
$ 468
SELECTED STATISTICS
Operating Margin
17.1%
FY 2014
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
FedEx Ground
Total Package Volume (000s)
Average Daily Package Volume (000s)
Yield (Revenue Per Package)
Q1 YTD
FY 2014
FY 2010
FY 2011
FY 2012
FY 2013
898,464
3,523
$ 7.73
958,962
3,746
$ 8.17
1,000,099
3,907
$ 8.77
1,076,709
4,222
9
$ 8.94
276,051
4,313
$ 9.05
3.5%
6.3%
4.3%
8.1%
10.6%
OPERATING WEEKDAYS
255
256
256
255
64
309,282
1,222
$ 1.56
366,647
1,432
$ 1.72
433,042
1,692
$ 1.81
522,726
2,058
$ 1.77
133,875
2,092
$ 1.67
FedEx SmartPost
Total Package Volume (000s)
Average Daily Package Volume (000s)
Yield (Revenue Per Package)
Average Daily YOY Volume Growth Rate
OPERATING WEEKDAYS
47.8%
17.2%
18.2%
21.6%
253
256
256
254
25.7%
64
23
215,200
3,311
$ 7.60
(0.8%)
229,683
3,534
$ 7.99
242,127
3,843
$ 7.89
244,585
3,882
$ 8.16
242,566
3,732
$ 8.64
6.6%
6.7%
6.7%
5.7%
6.1%
62
65
65
63
63
65
65,554
1,009
$ 1.41
79,676
1,265
$ 1.57
89,312
1,489
$ 1.59
74,740
1,150
$ 1.63
72,570
1,100
$ 1.68
93,504
1,484
$ 1.72
107,613
1,736
$ 1.70
92,960
1,430
$ 1.76
OPERATING WEEKDAYS
65
62.8%
63
4.6%
228,524
3,516
$ 8.04
63
72.8%
3.7%
227,797
3,674
$ 7.75
65
OPERATING WEEKDAYS
FedEx SmartPost
Total Package Volume (000s)
Avg. Daily Package Vol. (000s)
Yield (Revenue Per Package)
226,943
3,602
$ 7.54
46.0%
60
23.1%
65
FY 2012
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
FedEx Ground
Total Package Volume (000s)
Avg. Daily Package Vol. (000s)
Yield (Revenue Per Package)
FY 2011
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
9.0%
66
17.4%
63
16.6%
62
24.3%
65
FY 2013
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
241,938
3,722
$ 8.73
250,675
3,979
$ 8.53
256,505
4,072
$ 8.79
250,981
3,861
$ 9.03
253,387
3,898
$ 8.94
269,807
4,283
$ 8.72
277,538
4,476
$ 8.92
275,977
4,246
$ 9.19
5.3%
3.5%
4.9%
3.5%
4.7%
7.6%
9.9%
10.0%
65
63
63
65
65
63
62
65
FedEx SmartPost
Total Package Volume (000s)
Avg. Daily Package Vol. (000s)
91,954
1,415
109,452
1,737
123,498
1,960
108,137
1,664
108,156
1,664
128,411
2,038
151,099
2,477
135,061
2,078
$ 1.76
$ 1.79
$ 1.79
$ 1.88
$ 1.75
$ 1.82
$ 1.77
$ 1.74
28.6%
17.0%
12.9%
16.4%
17.6%
17.3%
26.4%
24.9%
OPERATING WEEKDAYS
65
63
63
65
FY 2014
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
FedEx Ground
Total Package Volume (000s)
Avg. Daily Package Vol. (000s)
Yield (Revenue Per Package)
Avg. Daily YOY Pkg. Growth Rate
64
61
65
FY 2015
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
63
63
64
64
63
63
64
63
61
64
64
63
61
64
133,875
2,092
$ 1.67
25.7%
64
63
276,051
4,313
$ 9.05
10.6%
OPERATING WEEKDAYS
FedEx SmartPost
Total Package Volume (000s)
Avg. Daily Package Vol. (000s)
Yield (Revenue Per Package)
65
Revenues
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals
Depreciation and amortization
Fuel
Maintenance and repairs
Business realignment, impairment and other charges 1
Intercompany charges2
Other
FY 2010
FY 2011
FY 2012
FY 2013
Q1 YTD
FY 2014
$ 4,321
$ 4,911
$ 5,282
$ 5,401
$ 1,424
2,128
690
116
198
445
148
18
351
380
4,474
2,303
779
122
205
585
182
89
427
394
5,086
2,316
851
114
185
636
192
433
393
5,120
2,342
865
118
217
598
191
3
484
375
5,193
598
234
32
57
145
46
121
100
1,333
($153)
($175)
$ 162
$ 208
$ 91
(3.5%)
(3.6%)
3.1%
3.9%
6.4%
SELECTED STATISTICS
Operating Margin
1 - FY11 includes $133 million in costs related to the combination of the FedEx Freight and FedEx National LTL operations. FY13 includes severance costs
associated with our voluntary buyout program.
2 - FY13 includes allocations of $47 million for business realignment costs.
Unaudited. Differences may result due to rounding.
25
FIRST
QUARTER
Revenues
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals
Depreciation and amortization
Fuel
Maintenance and repairs
1
Impairment and other charges
Intercompany charges
Other
FY 2010
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
FIRST
QUARTER
FY 2011
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
$ 982
$ 1,068
$ 1,040
$ 1,231
$ 1,258
$ 1,221
$ 1,123
$ 1,309
507
118
29
55
94
34
52
91
980
513
168
27
46
104
35
98
89
1,080
532
191
29
49
112
36
99
99
1,147
576
213
31
48
135
43
18
102
101
1,267
600
204
34
48
131
46
109
102
1,274
584
185
31
62
133
45
67
108
97
1,312
562
178
29
48
145
44
21
106
100
1,233
557
212
28
47
176
47
1
104
95
1,267
$2
($12)
($107)
($36)
($16)
($91)
($110)
$ 42
0.2%
(1.1%)
(10.3%)
(2.9%)
(1.3%)
(7.5%)
(9.8%)
3.2%
SELECTED STATISTICS
Operating Margin
1 - Q2, Q3 and Q4 FY11 include $133 million in costs related to the combination of the FedEx Freight and FedEx National LTL operations.
Unaudited. Differences may result due to rounding.
FIRST
QUARTER
Revenues
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals
Depreciation and amortization
Fuel
Maintenance and repairs
Business realignment, impairment
1
and other charges
Intercompany charges2
Other
FY 2012
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
FIRST
QUARTER
FY 2013
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
$ 1,328
$ 1,325
$ 1,234
$ 1,395
$ 1,399
$ 1,377
$ 1,237
$ 1,388
578
207
28
44
165
50
577
221
29
44
156
48
566
201
29
47
149
45
595
222
28
50
166
49
599
226
29
53
148
48
589
224
29
52
157
49
562
197
30
55
142
45
592
218
30
57
151
49
109
105
1,286
108
102
1,285
107
91
1,235
109
95
1,314
111
95
1,309
110
91
1,301
1
109
92
1,233
2
154
97
1,350
$ 42
$ 40
($1)
$ 81
$ 90
$ 76
$4
$ 38
3.2%
3.0%
(0.1%)
5.8%
6.4%
5.5%
0.3%
2.7%
SELECTED STATISTICS
Operating Margin
1 - FY13 includes severance costs associated with our voluntary buyout program.
2 - FY13 includes allocations of $4 million in Q3 and $41 million in Q4 for business realignment costs.
Unaudited. Differences may result due to rounding.
27
FIRST
QUARTER
Revenues
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals
Depreciation and amortization
Fuel
Maintenance and repairs
Business realignment, impairment
and other charges
Intercompany charges
Other
Operating Income
$ 1,424
598
234
32
57
145
46
121
100
1,333
$ 91
SELECTED STATISTICS
Operating Margin
6.4%
FY 2014
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
FedEx Freight
Annual LTL Shipment Statistics
FY 2010 FY 2014
FY 2010
Shipments Per Day
Priority
Economy
Total shipments per day
Weight Per Shipment (lbs)
Priority
Economy
Composite weight per shipment
LTL Yield (Revenue Per Hundredweight)
Priority
Economy
Composite LTL yield
Avg. Daily Shipment Growth Rate
Priority
Economy
Total shipments per day
OPERATING WEEKDAYS
82,290
1,134
$ 17.07
FY 2011
FY 2012
FY 2013
Q1 YTD
FY 2014
85,980
60,345
24,511
84,856
59,280
26,370
85,650
61,044
27,643
88,687
1,144
1,202
1,045
1,156
1,237
990
1,161
1,244
993
1,166
$ 18.24
$ 18.02
23.96
$ 19.57
$ 17.80
25.90
$ 19.94
$ 17.88
25.84
$ 19.99
10.6%
4.5%
253
254
N/A
N/A
(1.3%)
255
(1.8%)
7.6%
0.9%
253
(0.6%)
4.0%
0.8%
64
29
FedEx Freight
Quarterly LTL Shipment Statistics
FY 2010 FY 2013
FY 2010
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
Shipments Per Day
Priority
Economy
Total shipments per day
Weight Per Shipment (lbs)
Priority
Economy
Composite weight per shipment
LTL Yield (Revenue Per Hundredweight)
Priority
Economy
Composite LTL yield
Avg. Daily Shipment Growth Rate
Priority
Economy
Total shipments per day
OPERATING WEEKDAYS
71,384
1,109
$ 17.87
(13.7%)
65
82,928
1,128
$ 17.09
83,426
1,133
$ 16.82
91,523
1,160
$ 16.69
30
91,791
1,134
$ 17.32
89,371
1,115
$ 18.27
3.3%
26.4%
33.7%
28.6%
7.8%
62
61
65
65
62
FY 2012
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
Shipments Per Day
Priority
Economy
Total shipments per day
FY 2011
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
78,294
60,866
23,399
84,265
1,151
1,208
1,093
1,177
$ 18.66
$ 17.43
22.85
$ 18.83
(6.2%)
62
N/A
N/A
(7.9%)
65
FY 2013
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
61,221
23,734
84,955
62,113
24,674
86,787
56,427
23,343
79,770
61,580
26,263
87,843
61,415
26,578
87,993
61,534
26,818
88,352
55,236
25,227
80,463
58,788
26,808
85,596
1,186
1,082
1,157
1,184
1,057
1,147
1,212
1,025
1,157
1,225
1,018
1,163
1,215
999
1,150
1,215
989
1,146
1,250
989
1,168
1,272
981
1,181
$ 17.94
23.13
$ 19.29
$ 18.39
23.75
$ 19.79
$ 18.10
24.28
$ 19.70
$ 17.67
24.67
$ 19.50
$ 17.73
25.33
$ 19.72
$ 18.15
26.29
$ 20.28
$ 17.87
26.17
$ 20.10
$ 17.50
25.87
$ 19.68
1.2%
12.2%
4.2%
0.3%
12.0%
3.6%
65
65
N/A
N/A
(7.4%)
65
N/A
N/A
(2.9%)
62
N/A
N/A
1.9%
63
(0.9%)
8.7%
1.8%
62
(2.1%)
8.1%
0.9%
61
(4.5%)
2.1%
(2.6%)
65
FedEx Freight
Quarterly LTL Shipment Statistics
FY 2014 FY 2015
FY 2014
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
Shipments Per Day
Priority
Economy
Total shipments per day
Weight Per Shipment (lbs)
Priority
Economy
Composite weight per shipment
LTL Yield (Revenue Per Hundredweight)
Priority
Economy
Composite LTL yield
Avg. Daily Shipment Growth Rate
Priority
Economy
Total shipments per day
OPERATING WEEKDAYS
FY 2015
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
61,044
27,643
88,687
1,244
993
1,166
$ 17.88
25.84
$ 19.99
(0.6%)
4.0%
0.8%
64
62
62
64
64
62
62
64
31